Payments 'missed by 8 million Brits in 2010'

Wednesday, 09 February 2011 11:52

Regular monthly bill payments were missed by more than eight million Britons in 2010, new figures have revealed.

According to research from moneysupermarket.com, 17 per cent of UK adults did not pay at least one of their monthly bills.

Credit card repayments were most likely to be avoided, with more London residents failing to make this kind of repayment than any other area of the country.

Indeed, 11 per cent of Londoners missed this kind of bill.

Head of banking at moneysupermarket.com Kevin Mountford warns against the dangers of not paying bills.

While it may not initially seem like a big issue, "the consequences can be far reaching for your credit rating and can have a knock-on effect when applying for a new card, mortgage or securing any kind of credit", he states.

Adding that consumers should also be aware that things like mobile phone payments can also affect their credit rating, Mr Mountford notes that many people believe type of expenditure is not counted.

A recent study carried out by Confused.com showed that many Britons feel the cost of everyday living leaves them unable to save much money for the future.

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